Your credit score is an important indicator of your financial health. Lenders use credit scores to determine:
>Whether or not you are a good candidate for a loan
>What type of interest rate you will pay
>While your credit score is a key determinant of your creditworthiness, lenders also examine the information on your credit report and your loan application. Regularly checking your credit report enables you to:
Be informed of the most up-to-date information in your credit history
Correct any inaccuracies, to make sure that your credit data is a true depiction of your credit record and increasing your chances of receiving credit under the best possible terms.
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